What happens if my application is denied by NIFA for tax credits during an application round?
Those applications that either scored insufficient points or did not pass the underwriting process to receive a reservation of tax credits may resubmit an amended application during a subsequent application round, whereby it will once again undergo the full application process. Those applications which are denied tax credits on the basis that they do not qualify under the provisions of Section 42 of the Code may require a more thorough revision or additional analysis on the part of the applicant as to its potential to qualify under the requirements of the Code.
